Japanese shipyards in May received foreign ship orders for 16 vessels, or 669,000 grt, up 371.8 percent from May 1998, the Japan Ship Exporters' Association said. The level, however, was down 43.9 percent from May 1997, it said. Orders in May consisted of nine bulk carriers and seven oil tankers. In April, foreign ship orders fell 40.1 percent year-on-year.
Japanese shipyards in June received foreign ship orders for 20 vessels, or 667,500 grt, down 24.4 percent from a year earlier, the Japan Ship Exporters' Association said. All of June's orders were bulk carriers. The most recent figure represented an increase of 17.8 percent compared to June 1997, it said. Last month, May orders marked a year-on-year increase of 371.8 percent.
Daewoo Heavy Industries won $483 million in ship orders last week from companies in the U.S. and Greece. It will build four ultra large crude oil carriers for Majestic Shipping Co. of the U.S., and three very large crude oil carriers for Aeolos Management S.A. and Atlantic Bulk Carrier Ltd of Greece, a company statement said. Majestic ordered two 450,000-ton ultra crude oil carriers and took options on two more. Atlantic Bulk ordered two 75
Korean Ship Orders Up 322% New orders received by South Korean shipbuilders in February totaled 1.26 million gt, up 322.7 percent from the same month a year earlier, provisional figures from the Korea Shipbuilders' Association showed. Orders received in January-February period totaled 2.32 million gt for 37 ships, up 232.1 percent from the same period a year ago. Korea received orders for 21 new ships in February. Ten ships, totaling 718,000 gt, were completed during the month
According to a report from the Kyodo news service, the combined tonnage for ship orders received by South Korean shipbuilders was higher than that of Japanese shipbuilders in 2002. The Shipbuilders' Association of Japan reported that Japanese shipbuilders received orders worth a combined 5.9 million tons in the year, down 25.9% from 2001. South Korean shipbuilders reportedly received orders for a combined 7.59 million tons, up 18
Japanese export ship orders fell 8.5 percent in June from a year earlier, reveal figures by the Japan Ship Exporters’ Association (JSEA). Japanese export ship orders fell 8.5 percent in June from a year earlier to 499,370 gross tons, according to figures released by the Japan Ship Exporters’ Association (JSEA). The 8.5 percent decline in June was the third straight monthly drop year on year and was significantly slower than the 43.5 percent drop in April and 44
South Korea's Samsung Heavy Industries won $400 million in ship orders from companies in Greece and Germany. Samsung received an order to build four 300,000 dwt VLCC from Greece's Helespont Shipping for $280 million. It also received an order from Germany's Nordcapital Corp to build two 5,750 teu containerships worth $120 million. Samsung said it will deliver the ships to the two companies by the end of 2001. Samsung said its shipbuilding orders have reached $2
Japanese shipyards received foreign orders for 21 vessels totaling 581,100 GRT in July, down 39.6 percent from a year before, the Japan Ship Exporters' Association said. In all, 19 orders were for bulk carriers and two for freighters.
The China Shipbuilding Industry Corp. (CSIC), built 3.17 million tons of new ships in 2005, up 47 percent. In 2005, the CSIC received 3.73 million tons of new orders and 2.85 million tons of new ships are under construction. The profit it earned topped $123.9 million, up 85 percent year-on-year. China's shipbuilding companies built 12 million tons of new ships in 2005, accounting for 18 percent of the world market, ranking third after the Republic of Korea and Japan
Cruise ship operator Genting Hong Kong Ltd is buying three shipyards in Wismar, Warnemünde and Stralsund respectively owned by German shipbuilding company Nordic Yards for $358 million to further enable its presence in the sector. The purchase from Nordic Yard is expected to be funded by internal resources of the group, it said in a filing to the Hong Kong Stock Exchange. The purchase of the three shipyards, along with Lloyd Werft last year
The Global Shippers’ Forum (GSF) says that the use of mega ships and alliances remain the main problems within the shipping sector. The popular belief is that larger ships and alliances are good for competition because of the benefits they give
A keel laying ceremony was held today for Viking Sun, the fourth of six cruise ships ordered by Viking Ocean Cruises to be built by Fincantieri at its Ancona shipyard. The first building block of the ship, about 11 meters long, 28.8 meters wide and weighing about 280 tons
Genting Hong Kong, announced the completion of the acquisition of Nordic Yards’ three shipyards in Wismar, Warnemunde and Stralsund, Germany for the consideration of 230.6 million Euros. The deal will give Genting Hong Kong the core expertise, manpower
Another massive reduction in the Korean shipbuilding workforce may come as most shipyards are still struggling with falling orders and mounting losses, reports Yonhap quoting industry sources. Hyundai Heavy Industries plans for large layoffs amid a prolonged recession in the global
Incat Tasmania Pty Ltd, Australian shipbuilder, has secured a contract for the construction, delivery and long term charter of a large fast vehicle ferry for Danish company Mols-Linien A/S. The Ferry will be the fourth Incat vessel in the Mols Linien fleet.
Nils S. Andersen chief executive of oil and shipping giant, Moller-Maersk says that his company was prepared to weather the storm to defend its 15 percent share of the global container shipping market, reports CNBC. Of late, the shipping industry has been dogged by overcapacity -
The Singapore-listed and China-based shipbuilder Yangzijiang Shipbuilding has secured new orders worth $730m, including two very large gas carriers, between September and October. The two 84,000 cbm very large gas carriers (VLGCs) were ordered by Shanghai Zhenrong Energy.
Maersk Line, the world's largest container shipping company, said on Wednesday it will slash costs, cut staff by almost a fifth and pull out of vessel orders as trade along the busiest routes in the world, from Asia to Europe, slows down.
A slump in dry bulk shipping is set to worsen as the meltdown in global commodities and too many ships free for hire rock the sector used by investors to gauge the health of world trade. Slower coal and iron ore demand from China - the world's biggest industrial importer - have battered
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the lowest level since 2003. That could potentially sway owners into buying new ships feeding even more into the already oversupplied fleet and worsening
Construction on the hull of an icebreaking multipurpose supply vessel for Sovcomflot began today at the Arctech Helsinki shipyard with a keel laying ceremony. The vessel is the first in a series of four icebreaking sister ships ordered by Sovcomflot, Russia’s largest shipping company.
Daewoo Shipbuilding and Marine Engineering (DSME) launched on Friday the world’s first icebreaking liquefied natural gas (LNG) carrier at its Okpo shipyard in Geoje, South Gyeongsang. It was the first ship to be launched for Russia’s Yamal project and part of a 15-ship
MAN Diesel & Turbo has received an order for an MAN 6L21/31 engine to power a newbuilding cadet training sailing ship for the Defence Ministry of the Republic of Indonesia. The engine will be used to power the 110-meter Kri Bima Suci and up to 200 persons on board when not propelled by sail
The volatility of the shipping markets has always presented opportunities and pitfalls for investors - an analysis from Clarksons Research. Getting the timing right is key, and newbuilding decisions can prove especially difficult given the need to look further forwards into the future
Lifeboat producer Xervo has now reimagined and redeveloped its Boat-In-A-Box concept to match the needs of the commercial shipping business, and has already landed its first commercial shipping order for delivery in Q2 2016. The new lifeboat combines Xervo’s well-known safety concept with a